TowerGaming, OddsMatrix report

TowerGaming (SBR rating D+) has been added to the sportsbook ratings guide.

TowerGaming is a licensee on the OddsMatrix platform. OddsMatrix fully supports TowerGaming; powering their software and holding player funds in reserve. The COO of OddsMatrix confirmed the business relationship in a letter to SBR.

Jesper Jensen, OddsMatrix COO:
Our relationship to TowerGaming is very good and they have competent people to run the business.

How the white-label platform controls player funds:

Jesper Jensen, OddsMatrix COO:
As players are betting with OddsMatrix, we are in control of player funds residing in the sports book. If any of our licensees fails/dies, we are responsible to payout these players. This can only be done if the funds reside physically in the sports book balance. If funds are moved away, e.g. to main balance, poker- or casino balance, it is out of our control. As stated above, players are paid by OddsMatrix, but only if the licensee of OddsMatrix goes bankrupt. We are not doing day-to-day payment processing.

The last Malta-based sportsbook to use the OddsMatrix platform was BetOnBet (SBR rating F). OddsMatrix claimed at the time that only software was provided to BetOnBet. BetOnBet's processing was reportedly done by the Linx Media Group. Both BetOnBet and the Linx Media Group have since went bankrupt. | Read full TowerGaming, OddsMatrix report

Jesper Jensen, OddsMatrix COO:

In order to keep control over player funds, we require a "security deposit" from the licensee, e.g TowerGaming. A fixed amount is transferred to a common player funds account, which we present each month to LGA (Lotteries & Gaming Authority of Malta). The security deposit must at all times be higher than the total sum of player funds. In case the total sum of player funds goes above the security deposit, all transfers to the sports book is automatically blocked. Withdrawals are of course still possible to the main/casino/poker wallet.

It should be noted that like BetOnBet, TowerGaming only offers e-mail and live chat support. SBR is currently in discussion with OddsMatrix, who have stated that they would maintain an open line of communication should players encounter any problems with TowerGaming.